TaxTMI 
TaxTMI 
Heavy bikes, yachts, private jets to attract 31 pc GST
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....eavy bikes, yachts, private jets to attract 31 pc GST <br>GST<br>Dated:- 19-5-2017<br><BR>Srinagar, May 19 (PTI) Motorcycles of more than 350 cc engine capacity will attract a total of 31 per cent tax under the GST regime, same as the tax incidence on private aircraft and luxury yachts. According to the rate structure finalised by the GST Council here, all cars, buses, trucks and motorcycles incl....
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....uding moped as well as personal aircraft and luxury yachts will attract a peak Goods and Services Tax (GST) of 28 per cent. All classes of cars and SUVs as well as motorcycles of more than 350 cc engine capacity will also attract an additional cess. The cess for motorcycles with more than 350 cc engine has been kept at 3 per cent, taking the total incidence of taxation to 31 per cent. This is t....
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....he same as that for private aircraft and luxury yachts. Small cars of less than four meter length and with petrol engine of up to 1200 cc will attract 1 per cent cess on top of the peak rate. Small diesel cars with engine of less than 1500 cc will be charged 3 per cent cess. Mid-sized cars, SUVs and luxury cars will all attract 15 per cent cess, same as that for buses and vans that can carry mo....
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....re than 10 persons. Hybrid cars of more than 1500 cc engine would also attract 15 per cent cess. Aerated drinks and lemonade will attract 12 per cent cess on top of the peak rate while pan masala gutkha will be charged 204 per cent cess on top of the peak rate from July 1, the scheduled date for rollout of the GST. The Centre and states have agreed to impose cess on demerit and luxury goods und....
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....er the GST regime, over and above the peak tax rate of 28 per cent. On tobacco, the cess will vary from 71-204 per cent. Also, scented zarda and filter khaini will attract 160 per cent cess, while for pan masala gutkha it would be 204 per cent. Filter and non-filter cigarettes not exceeding 65 mm will attract cess of 5 per cent plus ₹ 1,591 per 1,000 sticks. Non-filter cigarettes exceedi....
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....ng 65 mm but not exceeding 70 mm will attract cess of 5 per cent plus ₹ 2,876, while that for filter cigarettes the levy is 5 per cent plus ₹ 2,126 per thousand sticks. For cigars, a hefty levy of 21 per cent or ₹ 4,170 per 1,000 sticks, whichever is higher, would be levied. Branded gutkha will be slapped with a cess of 72 per cent, while smoking mixtures for pipes and cigarett....
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....es will attract a levy 290 per cent. Besides, a clean energy cess will be levied on coal, lignite and peat production at the rate of ₹ 400 per tonne.<BR> News - Press release - PIB....